VanEck Pharmaceutical ETF (NASDAQ:PPH) Sees Strong Trading Volume – Here’s What Happened

VanEck Pharmaceutical ETF (NASDAQ:PPH) saw unusually-high trading volume on Friday . Approximately 102,163 shares were traded during trading, a decline of 32% from the previous session’s volume of 149,905 shares.The stock last traded at $86.70 and had previously closed at $88.17.

VanEck Pharmaceutical ETF Price Performance

The firm has a market capitalization of $641.67 million, a price-to-earnings ratio of 21.04 and a beta of 0.72. The business’s 50-day moving average price is $93.88 and its 200 day moving average price is $92.99.

Hedge Funds Weigh In On VanEck Pharmaceutical ETF

A number of institutional investors have recently added to or reduced their stakes in PPH. Optimum Investment Advisors acquired a new stake in shares of VanEck Pharmaceutical ETF during the second quarter worth approximately $27,000. GPS Wealth Strategies Group LLC bought a new stake in VanEck Pharmaceutical ETF in the second quarter valued at about $42,000. CWM LLC acquired a new stake in VanEck Pharmaceutical ETF during the second quarter valued at approximately $55,000. International Assets Investment Management LLC bought a new position in VanEck Pharmaceutical ETF during the 2nd quarter worth approximately $86,000. Finally, Comerica Bank grew its position in shares of VanEck Pharmaceutical ETF by 39.4% in the 1st quarter. Comerica Bank now owns 1,337 shares of the company’s stock worth $121,000 after acquiring an additional 378 shares in the last quarter.

About VanEck Pharmaceutical ETF

The VanEck Pharmaceutical ETF (PPH) is an exchange-traded fund that is based on the MVIS US Listed Pharmaceutical 25 index, a market-cap-weighted index of 25 of the largest global pharmaceutical firms. PPH was launched on Feb 1, 2000 and is managed by VanEck.